Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

AUTOMATIC DATA PROCESSING, INC.

(ADP)
  Report
Delayed Nasdaq  -  04:00:01 2023-01-30 pm EST
222.35 USD   +0.70%
10:14aBarclays Adjusts Price Target on Automatic Data Processing to $278 From $280, Maintains Overweight Rating
MT
04:39aHong Kong’s Trade Deficit Swells in December as Exports Plunge Most Since 1950s
MT
01/27DA Davidson Adjusts Automatic Data Processing's Price Target to $241 From $249, Maintains Buy Rating
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

US Employers Slowed Down Hiring in November -- ADP

11/30/2022 | 08:52am EST

By Xavier Fontdegloria


The U.S. private sector continued to add jobs in November, albeit at a slower pace than in the previous month, adding to signs of a cooling job market.

Employment in the nonfarm private sector rose by 127,000 in November after a 239,000 increase in October, according to data in the ADP National Employment Report released Wednesday. This marks the lowest job creation level since January 2021.

The reading missed economists' expectations, which forecast a gain of 190,000 in a poll by The Wall Street Journal.

November's hiring slowdown was led by construction and other interest-rate-sensitive sectors, the data showed.

"Turning points can be hard to capture in the labor market, but our data suggest that Federal Reserve tightening is having an impact on job creation and pay gains," said Nela Richardson, chief economist at ADP.

Companies are no longer in hyper-replacement mode, while fewer people are quitting and the postpandemic recovery is stabilizing, she said.

The ADP estimate is based on aggregated payroll data of more than 25 million U.S. workers and is independent from the Labor Department official data. The report's methodology has been upgraded and developed with the Stanford Digital Economy Lab. Before the change in methodology, the ADP series could diverge considerably from the Labor Department's data.

Medium-sized businesses were the only ones that increased employment, adding 246,000 to payrolls. Small businesses lost 51,000 jobs, while large businesses shed 68,000 jobs, the data showed.

By sector, services providers overall gained 213,000 jobs, but there were big differences among industries. Consumer-facing segments such as health care and hospitality were bright spots, but others such as professional and business services lost jobs.

Goods producers shed 86,000 jobs in total, with the manufacturing sector losing 100,000 jobs and construction payrolls declining by 2,000. Payrolls related to natural resources and mining increased by 16,000.

Annual pay growth remained elevated. Pay rose 7.6% in November, slightly down from the 7.7% on-year increase in October, according to ADP. Pay data is based on the salaries of almost 10 million individual employees over a 12-month period.

The U.S. Labor Department is expected to release its November employment report on Friday. Economists polled by The Wall Street Journal expect nonfarm payrolls to increase by 200,000, and the unemployment is forecast to remain at 3.7%.


Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com


(END) Dow Jones Newswires

11-30-22 0852ET

All news about AUTOMATIC DATA PROCESSING, INC.
10:14aBarclays Adjusts Price Target on Automatic Data Processing to $278 From $280, Maintains..
MT
04:39aHong Kong’s Trade Deficit Swells in December as Exports Plunge Most Since 1950s
MT
01/27DA Davidson Adjusts Automatic Data Processing's Price Target to $241 From $249, Maintai..
MT
01/26JPMorgan Adjusts Price Target on Automatic Data Processing to $245 From $253, Maintains..
MT
01/26Mizuho Securities Adjusts Automatic Data Processing's Price Target to $275 From $285, M..
MT
01/25Microsoft's Subdued Cloud Outlook Weighs on Nasdaq
MT
01/25Microsoft's Subdued Cloud Outlook Weighs on Nasdaq
MT
01/25Automatic Data Processing Tops Fiscal Second-Quarter Profit Views, Maintains Full-Year ..
MT
01/25Automatic Data Processing On Track for Largest Percent Decrease Since May 2022 -- Data ..
DJ
01/25Transcript : Automatic Data Processing, Inc., Q2 2023 Earnings Call, Jan 25, ..
CI
More news
Analyst Recommendations on AUTOMATIC DATA PROCESSING, INC.
More recommendations
Financials (USD)
Sales 2023 17 893 M - -
Net income 2023 3 370 M - -
Net cash 2023 403 M - -
P/E ratio 2023 27,4x
Yield 2023 1,97%
Capitalization 92 142 M 92 142 M -
EV / Sales 2023 5,13x
EV / Sales 2024 4,75x
Nbr of Employees 60 000
Free-Float 64,2%
Chart AUTOMATIC DATA PROCESSING, INC.
Duration : Period :
Automatic Data Processing, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AUTOMATIC DATA PROCESSING, INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Last Close Price 222,35 $
Average target price 245,18 $
Spread / Average Target 10,3%
EPS Revisions
Managers and Directors
Maria Black President
Don McGuire Chief Financial Officer & Vice President
Carlos A. Rodriguez Executive Chairman
Donald Weinstein Vice President-Global Product & Technology
John C. Ayala Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
AUTOMATIC DATA PROCESSING, INC.-7.56%91 500
ACCENTURE PLC3.91%174 608
TATA CONSULTANCY SERVICES LTD.4.74%153 083
INTERNATIONAL BUSINESS MACHINES CORPORATION-4.61%121 506
INFOSYS LIMITED0.73%76 932
SNOWFLAKE INC.11.02%51 250